[SMM Türkiye Weekly Review] Rebar Nears 610 USD/tonne Milestone, Longs Lead Gains and Probe High Offers to EU

Published: Sep 4, 2026 15:49

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Türkiye's long steel market maintained its upward momentum this week, with domestic rebar prices rising to 605 USD/tonne EXW (excl. VAT). Major Marmara mills each raised prices by 5 USD/tonne to 620–625 USD/tonne EXW, while Izmir quoted at 600 USD/tonne EXW, Iskenderun at 599–602 USD/tonne EXW, and domestic wire rod at 620–630 USD/tonne EXW. The export market rallied with simultaneous volume and price increases: rebar export quotes rose to 594 USD/tonne FOB, wire rod was quoted at 599 USD/tonne FOB, and Izmir's wire rod offers reached 620 USD/tonne FOB. July export customs data further corroborated the robust boom in long products, showing a 6.9% year-on-year increase in rebar exports and a massive 64% surge in wire rod. Flat steel products followed with moderate gains: domestic HRC edged up to 587.50 USD/tonne EXW, export offers rose by 5 USD/tonne to 585 USD/tonne FOB, and mills leveraged the new EU policies to issue probing offers of 565–580 EUR/tonne CFR (excluding anti-dumping duties) to Europe, while imported Chinese HRC was referenced at 540–545 USD/tonne CFR. On the semi-finished front, driven by Black Sea supply disruptions, Türkiye accumulated over 250,000–300,000 tonnes of billet purchases from Asia (including China, India, and Malaysia). Looking ahead to next week, underpinned by low inventories and replenishing demand, long products are expected to maintain a strong posture, while HRC will track European market trends upward, with close attention paid to whether scrap prices can provide relay support.

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